WOOJUNG BIO (Korea) Market Value
| 215380 Stock | KRW 1,698 50.00 3.03% |
| Symbol | WOOJUNG |
WOOJUNG BIO 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to WOOJUNG BIO's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of WOOJUNG BIO.
| 01/03/2023 |
| 12/23/2024 |
If you would invest 0.00 in WOOJUNG BIO on January 3, 2023 and sell it all today you would earn a total of 0.00 from holding WOOJUNG BIO or generate 0.0% return on investment in WOOJUNG BIO over 720 days. WOOJUNG BIO is related to or competes with KNOTUS CoLtd, Bridge Biotherapeutics, AptaBio Therapeutics, Cytogen, Genolution, and . WOOJUNG BIO, Inc. provides research and laboratory services in Korea More
WOOJUNG BIO Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure WOOJUNG BIO's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess WOOJUNG BIO upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.08) | |||
| Maximum Drawdown | 39.08 | |||
| Value At Risk | (7.19) | |||
| Potential Upside | 6.11 |
WOOJUNG BIO Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for WOOJUNG BIO's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as WOOJUNG BIO's standard deviation. In reality, there are many statistical measures that can use WOOJUNG BIO historical prices to predict the future WOOJUNG BIO's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.43) | |||
| Total Risk Alpha | (0.57) | |||
| Treynor Ratio | (2.27) |
WOOJUNG BIO Backtested Returns
WOOJUNG BIO shows Sharpe Ratio of -0.15, which attests that the company had a -0.15% return per unit of standard deviation over the last 3 months. WOOJUNG BIO exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out WOOJUNG BIO's Risk Adjusted Performance of (0.05), standard deviation of 5.3, and Mean Deviation of 3.17 to validate the risk estimate we provide. The firm maintains a market beta of 0.19, which attests to not very significant fluctuations relative to the market. As returns on the market increase, WOOJUNG BIO's returns are expected to increase less than the market. However, during the bear market, the loss of holding WOOJUNG BIO is expected to be smaller as well. At this point, WOOJUNG BIO has a negative expected return of -0.54%. Please make sure to check out WOOJUNG BIO's standard deviation, total risk alpha, maximum drawdown, as well as the relationship between the jensen alpha and treynor ratio , to decide if WOOJUNG BIO performance from the past will be repeated at some future point.
Auto-correlation | -0.27 |
Weak reverse predictability
WOOJUNG BIO has weak reverse predictability. Overlapping area represents the amount of predictability between WOOJUNG BIO time series from 3rd of January 2023 to 29th of December 2023 and 29th of December 2023 to 23rd of December 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of WOOJUNG BIO price movement. The serial correlation of -0.27 indicates that nearly 27.0% of current WOOJUNG BIO price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.27 | |
| Spearman Rank Test | 0.06 | |
| Residual Average | 0.0 | |
| Price Variance | 163.7 K |
WOOJUNG BIO lagged returns against current returns
Autocorrelation, which is WOOJUNG BIO stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting WOOJUNG BIO's stock expected returns. We can calculate the autocorrelation of WOOJUNG BIO returns to help us make a trade decision. For example, suppose you find that WOOJUNG BIO has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
WOOJUNG BIO regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If WOOJUNG BIO stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if WOOJUNG BIO stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in WOOJUNG BIO stock over time.
Current vs Lagged Prices |
| Timeline |
WOOJUNG BIO Lagged Returns
When evaluating WOOJUNG BIO's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of WOOJUNG BIO stock have on its future price. WOOJUNG BIO autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, WOOJUNG BIO autocorrelation shows the relationship between WOOJUNG BIO stock current value and its past values and can show if there is a momentum factor associated with investing in WOOJUNG BIO.
Regressed Prices |
| Timeline |
Pair Trading with WOOJUNG BIO
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if WOOJUNG BIO position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in WOOJUNG BIO will appreciate offsetting losses from the drop in the long position's value.Moving together with WOOJUNG Stock
| 0.79 | 278650 | KNOTUS CoLtd | PairCorr |
| 0.82 | 293780 | AptaBio Therapeutics | PairCorr |
| 0.9 | 225220 | Genolution | PairCorr |
Moving against WOOJUNG Stock
| 0.86 | 035420 | Naver | PairCorr |
| 0.86 | 041510 | SM Entertainment | PairCorr |
| 0.73 | 032640 | LG Uplus | PairCorr |
| 0.72 | 078160 | MEDIPOST | PairCorr |
| 0.69 | 011390 | Busan Industrial | PairCorr |
The ability to find closely correlated positions to WOOJUNG BIO could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace WOOJUNG BIO when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back WOOJUNG BIO - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling WOOJUNG BIO to buy it.
The correlation of WOOJUNG BIO is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as WOOJUNG BIO moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if WOOJUNG BIO moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for WOOJUNG BIO can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Other Information on Investing in WOOJUNG Stock
WOOJUNG BIO financial ratios help investors to determine whether WOOJUNG Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in WOOJUNG with respect to the benefits of owning WOOJUNG BIO security.